Congressional Federal Credit Union, full name Wright Patman Congressional Federal Credit Union, headquartered in Oakton, Virginia, was founded in 1953 by congressional employees and later renamed to honor Congressman Wright Patman, a key credit union advocate. Serving nearly 50,000 members with assets over $970 million, it operates multiple branches on Capitol Hill and in Virginia, and is a federally chartered, not-for-profit cooperative.
See today’s mortgage interest rates on TrueRate.
How Congressional Federal Credit Union compares to other lenders
| Headquarters | Oakton, Virginia |
| Website | https://www.congressionalfcu.org/ |
| Rate | 0.18% less than the median rate |
| Lender fees | $1,195 (median) |
| Savings after 1 year, compared to the median interest rate | $951 |
| Savings after 10 years, compared to the median interest rate | $6,166 |
| Added cost after 1 year (vs. Tomo Mortgage) | $1,627 |
| Added cost after 10 years (vs. Tomo Mortgage) | $5,018 |
For a $400,000 mortgage, Congressional Federal Credit Union’s rates and lender fees will likely result in savings of around $1,027 in the first year and $6,920 after 10 years compared to the median lender. Borrowers should rate shop and compare Congressional Federal Credit Union to lower cost lenders such as Tomo Mortgage to see if thousands in additional savings can be achieved.
What customers are saying
Congressional Federal Credit Union’s mortgage lending receives mixed sentiment on third-party review platforms, particularly Yelp. Positive reviews highlight the convenience of online banking and timely mortgage payments, with some members reporting long-term satisfaction with their mortgage experience.
However, substantiated negative reviews focus on poor communication from the mortgage division, lost paperwork, missed home purchase opportunities, and frustration with outdated technology and unhelpful staff during the mortgage process. Overall, while some borrowers appreciate the ease of online services, the most common sentiment emphasizes significant challenges with communication and technology in mortgage lending.
How to compare mortgage lenders
Interest rates. Comparing rates between lenders isn’t always straightforward. Many promote low headline rates that require paying “points” upfront to buy down the interest rate. To make a true comparison, focus on the par rate (0 points) and the APR, which reflects both the interest rate and any lender fees. Even small differences can translate into significant savings over the life of the loan.
Lender fees or loan origination fees. Many lenders charge fees that add thousands to the cost of a loan. It’s important to look at both the rate and the fees together to understand the true cost of borrowing. For a $400,000 mortgage, avoiding even a $1,000 fee could contribute to meaningful savings in the first year and over the long term.
On-time close rate. Most lenders do not publicly share their on-time close rates. However, it’s a critical factor—especially if your home contract has tight deadlines. Asking about their process for meeting close dates, including underwriting and document review timelines, can give you more confidence when choosing a lender.
Pre-approval and offer letters. Some lenders offer fast pre-qualifications that may not be fully underwritten, which can weaken your offer in competitive markets. It’s important to ask whether a lender’s pre-approvals are fully underwritten and how credible their letters are when presented with an offer.
Customer satisfaction. If detailed customer review data isn’t readily available, check third-party review sites or ask the lender for references. It’s important to understand how they handle communication, responsiveness, and issue resolution throughout the loan process.
Employee reviews. Company culture often influences how clients are treated. A lender with strong employee satisfaction typically delivers better service, more organized processing, and a smoother overall experience for borrowers.
To better understand how we compare mortgage rates fairly, see our TrueRate Methodology.
If you’re ready to start your journey to homeownership, get pre-approved with Tomo Mortgage today.